Fortune Minerals (TSE:FT) Sets New 1-Year Low – Should You Sell?

Fortune Minerals Limited (TSE:FT) hit a new 52-week low during trading on Friday. The company traded as low as C$0.09 and last traded at C$0.08, with a volume of 674,562 shares changing hands. The stock had previously closed at C$0.10.

Fortune Minerals Trading Down 10.5%

The firm has a 50-day moving average of C$0.13 and a two-hundred day moving average of C$0.13. The firm has a market capitalization of C$56.96 million, a P/E ratio of -8.50 and a beta of -0.92. The company has a current ratio of 0.21, a quick ratio of 0.04 and a debt-to-equity ratio of -230.60.

Fortune Minerals (TSE:FT) last issued its quarterly earnings results on Friday, August 14th. The company reported C($0.01) EPS for the quarter. Fortune Minerals had a negative net margin of 13,690.93% and a positive return on equity of 80.32%.

Fortune Minerals Company Profile

Fortune is a Canadian mining and mineral processing company focused on developing the NICO cobalt-gold-bismuth-copper project in the Northwest Territories and Alberta. Fortune also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 km north of the NICO deposit and is a potential future source of incremental feed to extend the life of the NICO concentrator.